Not eyeing tie-up, have capital to start Bandhan Bank: Ghosh

Bandhan Financial Services, the first micro finance institution in the country to win a bank licence, is not looking for any tie-up as of now, saying that it has adequate capital to start banking operation.

Set up in 2001 by Ghosh, Kolkata-based Bandhan began with a focus on working with socially disadvantaged and economically exploited women.

It disbursed Rs 963 crore of loans in February and has total loans outstanding of Rs 5,704 crore.

The International Finance Corporation, the investment arm of the World Bank, picked up about 11 per cent stake in Bandhan for nearly Rs 135 crore in 2011. The only other institutional investor in Bandhan is Sidbi, which holds 10 per cent stake.

Bandhan has loan schemes such as Samriddhi for the MSME sector and Sushiksha for education, among others. It also runs the Bandhan School of Development Management.